Q1 2025 · 13F-HR
THORNBURG INVESTMENT MANAGEMENT INCholdings as filed
Filed 2025-05-08 · accession 0001140361-25-017766
$71.54B
Reported value
182
Positions
2025-03-31
Period end
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 00206R102 | T | AT&T INC | $7.80B | 10.9% | 27,584,862 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $5.60B | 7.83% | 7,890,018 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $5.03B | 7.03% | 3,002,533 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $2.77B | 3.87% | 3,086,806 | Common | SOLE |
| 12572Q105 | CME | CME GROUP INC | $2.74B | 3.83% | 1,031,848 | Common | SOLE |
| 29452E101 | EQH | EQUITABLE HLDGS INC | $2.53B | 3.54% | 4,855,273 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $2.51B | 3.50% | 9,895,773 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $1.87B | 2.61% | 509,374 | Common | SOLE |
| 87807B107 | TRP | TC ENERGY CORP | $1.82B | 2.55% | 3,860,519 | Common | SOLE |
| G5960L103 | MDT | MEDTRONIC PLC | $1.73B | 2.42% | 1,922,810 | Common | SOLE |
| 29250N105 | ENB | ENBRIDGE INC | $1.59B | 2.22% | 3,587,620 | Common | SOLE |
| 17275R102 | CSCO | CISCO SYS INC | $1.51B | 2.11% | 2,448,169 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $1.42B | 1.98% | 577,895 | Common | SOLE |
| N53745100 | LYB | LYONDELLBASELL INDUSTRIES N | $1.40B | 1.95% | 1,982,012 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $1.28B | 1.79% | 771,676 | Common | SOLE |
| H01301128 | ALC | ALCON AG | $1.26B | 1.77% | 1,333,526 | Common | SOLE |
| G54950103 | LIN | LINDE PLC | $1.21B | 1.69% | 259,055 | Common | SOLE |
| 71654V408 | PBR | PETROLEO BRASILEIRO SA PETRO | $1.11B | 1.55% | 7,750,838 | Common | SOLE |
| 13646K108 | CP | CANADIAN PACIFIC KANSAS CITY | $1.09B | 1.53% | 1,557,543 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $1.08B | 1.51% | 2,844,178 | Common | SOLE |
| 7591EP100 | RF | REGIONS FINANCIAL CORP NEW | $998.7M | 1.40% | 4,596,096 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $974.1M | 1.36% | 169,008 | Common | SOLE |
| N3168P101 | FER | FERROVIAL SE | $763.1M | 1.07% | 1,711,361 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $760.2M | 1.06% | 491,581 | Common | SOLE |
| 83413U100 | SLRC | SLR INVESTMENT CORP | $737.2M | 1.03% | 4,372,550 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $705.7M | 0.99% | 901,559 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $680.6M | 0.95% | 324,841 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $652.9M | 0.91% | 493,774 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $638.7M | 0.89% | 32,740 | Common | SOLE |
| 16934Q802 | CIM | CHIMERA INVT CORP | $634.9M | 0.89% | 4,948,735 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $624.7M | 0.87% | 113,970 | Common | SOLE |
| 670100205 | NVO | NOVO-NORDISK A S | $498.5M | 0.70% | 717,835 | Common | SOLE |
| 81141R100 | SE | SEA LTD | $482.4M | 0.67% | 369,689 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $469.6M | 0.66% | 385,540 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $457.3M | 0.64% | 9,926 | Common | SOLE |
| 48553T106 | BZ | KANZHUN LIMITED | $452.4M | 0.63% | 2,360,107 | Common | SOLE |
| 939653101 | ELME | ELME COMMUNITIES | $383.8M | 0.54% | 2,205,668 | Common | SOLE |
| 046353108 | AZNN | ASTRAZENECA PLC | $380.1M | 0.53% | 517,087 | Common | SOLE |
| 03761U502 | MFIC | MIDCAP FINANCIAL INVSTMNT CO | $377.8M | 0.53% | 2,937,783 | Common | SOLE |
| N3167Y103 | RACE | FERRARI N V | $362.7M | 0.51% | 84,760 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $340.6M | 0.48% | 189,940 | Common | SOLE |
| 127190304 | CACI | CACI INTL INC | $314.1M | 0.44% | 85,601 | Common | SOLE |
| 147448104 | CWST | CASELLA WASTE SYS INC | $312.1M | 0.44% | 279,876 | Common | SOLE |
| 12008R107 | BLDR | BUILDERS FIRSTSOURCE INC | $282.3M | 0.39% | 225,956 | Common | SOLE |
| 502431109 | LHX | L3HARRIS TECHNOLOGIES INC | $267.5M | 0.37% | 127,818 | Common | SOLE |
| G5S37H101 | MRX | MAREX GROUP PLC | $242.9M | 0.34% | 687,673 | Common | SOLE |
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $234.4M | 0.33% | 105,787 | Common | SOLE |
| T9224W109 | STVN | STEVANATO GROUP S P A | $226.6M | 0.32% | 1,109,884 | Common | SOLE |
| G87110105 | FTI | TECHNIPFMC PLC | $202.6M | 0.28% | 639,315 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $199.9M | 0.28% | 184,428 | Common | SOLE |
| 03820C105 | AIT | APPLIED INDL TECHNOLOGIES IN | $198.4M | 0.28% | 88,030 | Common | SOLE |
| 83671M105 | SOBO | SOUTH BOW CORP | $197.3M | 0.28% | 772,102 | Common | SOLE |
| 89400J107 | TRU | TRANSUNION | $187.4M | 0.26% | 225,769 | Common | SOLE |
| G8068L108 | SN | SHARKNINJA INC | $172.9M | 0.24% | 207,343 | Common | SOLE |
| N07059210 | ASML | ASML HOLDING N V | $170.8M | 0.24% | 25,781 | Common | SOLE |
| 835699307 | SONY | SONY GROUP CORP | $165.4M | 0.23% | 651,408 | Common | SOLE |
| 69349H107 | TXNM | TXNM ENERGY INC | $159.5M | 0.22% | 298,264 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $156.7M | 0.22% | 152,484 | Common | SOLE |
| 72346Q104 | — | PINNACLE FINL PARTNERS INC | $154.6M | 0.22% | 145,820 | Common | SOLE |
| 05550J101 | BJ | BJS WHSL CLUB HLDGS INC | $152.4M | 0.21% | 133,562 | Common | SOLE |
| 50212V100 | LPLA | LPL FINL HLDGS INC | $150.4M | 0.21% | 45,968 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $148.0M | 0.21% | 1,445,548 | Common | SOLE |
| 12510Q100 | CCC | CCC INTELLIGENT SOLUTIONS HL | $148.0M | 0.21% | 1,639,198 | Common | SOLE |
| 92537N108 | VRT | VERTIV HOLDINGS CO | $147.1M | 0.21% | 203,803 | Common | SOLE |
| 89151E109 | TTEN | TOTALENERGIES SE | $146.7M | 0.20% | 226,706 | Common | SOLE |
| G4705A100 | ICLR | ICON PLC | $144.0M | 0.20% | 82,318 | Common | SOLE |
| 606822104 | MUFG | MITSUBISHI UFJ FINL GROUP IN | $143.8M | 0.20% | 1,055,372 | Common | SOLE |
| 00847J105 | AGYS | AGILYSYS INC | $141.0M | 0.20% | 194,390 | Common | SOLE |
| 184496107 | CLH | CLEAN HARBORS INC | $139.0M | 0.19% | 70,512 | Common | SOLE |
| 82509L107 | SHOP | SHOPIFY INC | $136.9M | 0.19% | 143,397 | Common | SOLE |
| 67059N108 | NTNX | NUTANIX INC | $135.5M | 0.19% | 194,099 | Common | SOLE |
| L44385109 | GLOB | GLOBANT S A | $133.1M | 0.19% | 113,033 | Common | SOLE |
| 94106B101 | WCN | WASTE CONNECTIONS INC | $130.0M | 0.18% | 66,622 | Common | SOLE |
| 957638109 | WAL | WESTERN ALLIANCE BANCORP | $128.8M | 0.18% | 167,591 | Common | SOLE |
| 488401100 | KMPR | KEMPER CORP | $127.2M | 0.18% | 190,338 | Common | SOLE |
| 04621X108 | AIZ | ASSURANT INC | $125.1M | 0.17% | 59,634 | Common | SOLE |
| 55405W104 | MYRG | MYR GROUP INC DEL | $123.5M | 0.17% | 109,161 | Common | SOLE |
| 464288240 | ACWX | ISHARES TR | $119.6M | 0.17% | 215,665 | Common | SOLE |
| 98311A105 | WH | WYNDHAM HOTELS & RESORTS INC | $118.8M | 0.17% | 131,298 | Common | SOLE |
| 74624M102 | P | PURE STORAGE INC | $117.3M | 0.16% | 265,061 | Common | SOLE |
| 81725T100 | SXT | SENSIENT TECHNOLOGIES CORP | $116.5M | 0.16% | 156,493 | Common | SOLE |
| 039653100 | ACA | ARCOSA INC | $115.2M | 0.16% | 149,428 | Common | SOLE |
| 878742204 | TECK | TECK RESOURCES LTD | $114.7M | 0.16% | 314,848 | Common | SOLE |
| 398905109 | GPI | GROUP 1 AUTOMOTIVE INC | $111.2M | 0.16% | 29,112 | Common | SOLE |
| 45073V108 | ITT | ITT INC | $110.5M | 0.15% | 85,580 | Common | SOLE |
| 93148P102 | WD | WALKER & DUNLOP INC | $110.0M | 0.15% | 128,814 | Common | SOLE |
| 23282W605 | CYTK | CYTOKINETICS INC | $104.9M | 0.15% | 260,893 | Common | SOLE |
| 983793100 | XPO | XPO INC | $102.7M | 0.14% | 95,498 | Common | SOLE |
| 456837103 | ING | ING GROEP N.V. | $102.1M | 0.14% | 521,307 | Common | SOLE |
| 19247G107 | COHR | COHERENT CORP | $101.3M | 0.14% | 155,995 | Common | SOLE |
| 200300507 | — | COMCAST HOLDINGS CORP | $96.3M | 0.13% | 157,910 | Common | SOLE |
| 8676EP108 | STKL | SUNOPTA INC | $94.9M | 0.13% | 1,951,789 | Common | SOLE |
| 88033G407 | THC | TENET HEALTHCARE CORP | $94.4M | 0.13% | 70,161 | Common | SOLE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $90.1M | 0.13% | 45,143 | Common | SOLE |
| 89677Q107 | TCOM | TRIP COM GROUP LTD | $89.5M | 0.13% | 140,825 | Common | SOLE |
| 49803T300 | KRG | KITE RLTY GROUP TR | $88.6M | 0.12% | 396,121 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $88.5M | 0.12% | 9,358 | Common | SOLE |
| 55405Y100 | MTSI | MACOM TECH SOLUTIONS HLDGS I | $84.8M | 0.12% | 84,502 | Common | SOLE |
| 00912X302 | AL | AIR LEASE CORP | $84.6M | 0.12% | 175,146 | Common | SOLE |
| 803054204 | SAP | SAP SE | $84.1M | 0.12% | 31,319 | Common | SOLE |
| M2682V108 | CYBR | CYBERARK SOFTWARE LTD | $84.0M | 0.12% | 24,847 | Common | SOLE |
| 23345M107 | DTM | DT MIDSTREAM INC | $83.1M | 0.12% | 86,132 | Common | SOLE |
| 05352A100 | AVTR | AVANTOR INC | $81.1M | 0.11% | 500,483 | Common | SOLE |
| 576485205 | MTDR | MATADOR RES CO | $79.7M | 0.11% | 155,977 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY INC | $78.1M | 0.11% | 89,937 | Common | SOLE |
| G0260P102 | AS | AMER SPORTS INC | $77.3M | 0.11% | 289,373 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC | $76.4M | 0.11% | 104,277 | Common | SOLE |
| 722304102 | PDD | PDD HOLDINGS INC | $74.0M | 0.10% | 62,498 | Common | SOLE |
| 78351F107 | RYAN | RYAN SPECIALTY HOLDINGS INC | $72.1M | 0.10% | 97,609 | Common | SOLE |
| 73278L105 | POOL | POOL CORP | $70.8M | 0.10% | 22,251 | Common | SOLE |
| G2519Y108 | BAP | CREDICORP LTD | $70.8M | 0.10% | 38,049 | Common | SOLE |
| 243537107 | DECK | DECKERS OUTDOOR CORP | $69.1M | 0.10% | 61,776 | Common | SOLE |
| 69343T107 | PJT | PJT PARTNERS INC | $68.8M | 0.10% | 49,933 | Common | SOLE |
| 76029L100 | RPAY | REPAY HLDGS CORP | $68.4M | 0.10% | 1,227,625 | Common | SOLE |
| 29362U104 | ENTG | ENTEGRIS INC | $62.5M | 0.09% | 71,499 | Common | SOLE |
| 92540K109 | VTMX | VESTA REAL ESTATE CORP | $61.0M | 0.09% | 267,382 | Common | SOLE |
| M7S64H106 | MNDY | MONDAY COM LTD | $60.9M | 0.09% | 25,035 | Common | SOLE |
| 09061G101 | BMRN | BIOMARIN PHARMACEUTICAL INC | $60.4M | 0.08% | 85,427 | Common | SOLE |
| 531229755 | FWONK | LIBERTY MEDIA CORP DEL | $59.0M | 0.08% | 65,504 | Common | SOLE |
| H5919C104 | ONON | ON HLDG AG | $57.0M | 0.08% | 129,880 | Common | SOLE |
| 35969L108 | YMM | FULL TRUCK ALLIANCE CO LTD | $55.7M | 0.08% | 436,514 | Common | SOLE |
| 185123106 | CWAN | CLEARWATER ANALYTICS HLDGS I | $54.8M | 0.08% | 204,536 | Common | SOLE |
| 171484108 | CHDN | CHURCHILL DOWNS INC | $54.1M | 0.08% | 48,713 | Common | SOLE |
| 82452J109 | FOUR | SHIFT4 PMTS INC | $53.8M | 0.08% | 65,783 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $53.2M | 0.07% | 14,159 | Common | SOLE |
| 457669307 | INSM | INSMED INC | $52.5M | 0.07% | 68,840 | Common | SOLE |
| 85423L103 | SARO | STANDARDAERO INC | $51.8M | 0.07% | 194,295 | Common | SOLE |
| 45104G104 | IBN | ICICI BANK LIMITED | $51.6M | 0.07% | 163,555 | Common | SOLE |
| 92837L109 | VIST | VISTA ENERGY S.A.B. DE C.V. | $51.4M | 0.07% | 110,312 | Common | SOLE |
| 377322102 | GKOS | GLAUKOS CORP | $49.6M | 0.07% | 50,430 | Common | SOLE |
| 25243Q205 | DEO | DIAGEO PLC | $48.6M | 0.07% | 46,379 | Common | SOLE |
| 81762P102 | NOW | SERVICENOW INC | $47.9M | 0.07% | 6,015 | Common | SOLE |
| 892672106 | TW | TRADEWEB MKTS INC | $47.8M | 0.07% | 32,229 | Common | SOLE |
| 83207R107 | SDHC | SMITH DOUGLAS HOMES CORP | $47.7M | 0.07% | 244,213 | Common | SOLE |
| 358039105 | FRPT | FRESHPET INC | $45.4M | 0.06% | 54,640 | Common | SOLE |
| 683715106 | OTEX | OPEN TEXT CORP | $45.3M | 0.06% | 179,337 | Common | SOLE |
| M6191J100 | FROG | JFROG LTD | $44.7M | 0.06% | 139,680 | Common | SOLE |
| G25457105 | CRDO | CREDO TECHNOLOGY GROUP HOLDI | $43.7M | 0.06% | 108,778 | Common | SOLE |
| 45784P101 | PODD | INSULET CORP | $43.3M | 0.06% | 16,470 | Common | SOLE |
| 759916109 | RGEN | REPLIGEN CORP | $42.9M | 0.06% | 33,720 | Common | SOLE |
| 750917106 | RMBS | RAMBUS INC DEL | $42.0M | 0.06% | 81,120 | Common | SOLE |
| 78709Y105 | SAIA | SAIA INC | $40.7M | 0.06% | 11,661 | Common | SOLE |
| 683344105 | ONTO | ONTO INNOVATION INC | $39.8M | 0.06% | 32,774 | Common | SOLE |
| 04010E109 | AGX | ARGAN INC | $39.7M | 0.06% | 30,255 | Common | SOLE |
| G0896C103 | TBBB | BBB FOODS INC | $39.5M | 0.06% | 148,001 | Common | SOLE |
| 15118V207 | CELH | CELSIUS HLDGS INC | $37.7M | 0.05% | 105,970 | Common | SOLE |
| N82405106 | STLA | STELLANTIS N.V | $37.6M | 0.05% | 335,843 | Common | SOLE |
| 457730109 | INSP | INSPIRE MED SYS INC | $36.5M | 0.05% | 22,904 | Common | SOLE |
| 228903100 | AORT | ARTIVION INC | $32.6M | 0.05% | 132,672 | Common | SOLE |
| 85914M107 | STEP | STEPSTONE GROUP INC | $31.0M | 0.04% | 59,320 | Common | SOLE |
| 40415F101 | HDB | HDFC BANK LTD | $28.1M | 0.04% | 42,353 | Common | SOLE |
| 464287465 | EFA | ISHARES TR | $25.7M | 0.04% | 31,385 | Common | SOLE |
| 448579102 | H | HYATT HOTELS CORP | $25.0M | 0.03% | 20,407 | Common | SOLE |
| 110122108 | BMY | BRISTOL-MYERS SQUIBB CO | $23.4M | 0.03% | 38,400 | Common | SOLE |
| N97284108 | NBIS | NEBIUS GROUP N.V. | $21.9M | 0.03% | 103,823 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $21.7M | 0.03% | 11,396 | Common | SOLE |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $16.1M | 0.02% | 130,746 | Common | SOLE |
| 92337R101 | VERA | VERA THERAPEUTICS INC | $16.0M | 0.02% | 66,572 | Common | SOLE |
| 92826C839 | V | VISA INC | $15.8M | 0.02% | 4,521 | Common | SOLE |
| 48241A105 | KB | KB FINL GROUP INC | $14.9M | 0.02% | 27,458 | Common | SOLE |
| 806857108 | SLB | SCHLUMBERGER LTD | $14.3M | 0.02% | 34,100 | Common | SOLE |
| 254687106 | DIS | DISNEY WALT CO | $12.2M | 0.02% | 12,336 | Common | SOLE |
| 456788108 | INFY | INFOSYS LTD | $10.8M | 0.02% | 59,072 | Common | SOLE |
| 693483109 | PKX | POSCO HOLDINGS INC | $9.9M | 0.01% | 20,804 | Common | SOLE |
| 98978V103 | ZTS | ZOETIS INC | $9.6M | 0.01% | 5,816 | Common | SOLE |
| 465562106 | ITUB | ITAU UNIBANCO HLDG S A | $9.5M | 0.01% | 171,850 | Common | SOLE |
| 256135203 | RDY | DR REDDYS LABS LTD | $9.4M | 0.01% | 71,001 | Common | SOLE |
| V5633W109 | MMYT | MAKEMYTRIP LIMITED MAURITIUS | $8.5M | 0.01% | 8,674 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM INC | $8.5M | 0.01% | 5,501 | Common | SOLE |
| 88031M109 | TS | TENARIS S A | $8.2M | 0.01% | 21,063 | Common | SOLE |
| G4124C109 | GRAB | GRAB HOLDINGS LIMITED | $8.2M | 0.01% | 179,976 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $6.9M | 0.01% | 3,103 | Common | SOLE |
| 00215W100 | ASX | ASE TECHNOLOGY HLDG CO LTD | $6.7M | 0.01% | 76,420 | Common | SOLE |
| 803607100 | SRPT | SAREPTA THERAPEUTICS INC | $6.0M | 0.01% | 9,458 | Common | SOLE |
| 66987V109 | NVS | NOVARTIS AG | $5.5M | 0.01% | 4,889 | Common | SOLE |
| 22266T109 | CPNG | COUPANG INC | $5.2M | 0.01% | 23,689 | Common | SOLE |
| 74762E102 | QURE | QUANTA SVCS INC | $4.6M | 0.01% | 1,821 | Common | SOLE |
| 647581206 | EDU | NEW ORIENTAL ED & TECHNOLOGY | $4.6M | 0.01% | 9,527 | Common | SOLE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $3.1M | 0.00% | 1,946 | Common | SOLE |
| 464287234 | EEM | ISHARES TR | $3.0M | 0.00% | 6,842 | Common | SOLE |
| 922042775 | VEU | VANGUARD INTL EQUITY INDEX F | $2.1M | 0.00% | 3,408 | Common | SOLE |
| 92857W308 | VOD | VODAFONE GROUP PLC NEW | $1.6M | 0.00% | 17,164 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.